(BC - Get Report)
were among the
losers Wednesday, sliding 7% after the maker of boats and recreational products narrowed its second-quarter earnings estimate and slashed its full-year earnings forecast.
The company now sees second-quarter earnings from continuing operations of 93 cents to 94 cents a share. Previously, Brunswick forecast earnings of 90 cents to 97 cents a share. Analysts polled by Thomson First Call project earnings of 96 cents a share. The company sees revenue of about $1.55 billion, in line with forecasts.
"Throughout the key second-quarter selling season for 2006-model-year marine products, however, we have experienced significant declines in retail demand, which has resulted in an increase in pipeline inventories," the company said. As a result, the company is lowering production levels for the offseason.
For the full year, Brunswick now sees earnings of $2.40 to $2.55 a share, down significantly from its earlier forecast of $3 to $3.15 a share. Analysts project earnings of $3.06 a share. Brunswick plans to issue second-quarter results on July 27. Shares were trading down $2.08 to $29.75.
(FAST - Get Report)
fell 6% after the industrial and construction supplies company posted second-quarter earnings that fell short of expectations. The company earned $51.5 million, or 34 cents a share, on revenue of $458.8 million. Analysts expected earnings of 36 cents a share and revenue of $458.7 million. A year earlier, Fastenal earned $44.6 million, or 30 cents a share, on revenue of $383.3 million. Shares were trading down $2.12 to $36.43.
fell 9% after the candle maker lowered its second-quarter earnings estimate. The company expects to post earnings of 11 cents to 12 cents a share, down from an earlier view of 18 cents to 20 cents a share. Analysts project earnings of 20 cents a share. Yankee Candle projects that wholesale division sales fell about 3%, worse than its previous estimate calling for an increase of 6% to 8%.
Retail division sales growth, meanwhile, was above expectations, increasing 18%. Total sales growth for the second quarter is now expected to be about 7%, in line with the company's previous guidance of 6% to 8%. "The core gift channel marketplace is being fundamentally challenged by both macroeconomic conditions and competitive pressures, and the continued weakness in this channel clearly impacted our mix and margins," Yankee Candle said.